NOT LISTED FOR SALE

1020 Sherman Ave South Bend, IN 46616

Near Northwest Neighborhood

Estimated Value: $160,000 - $224,000

5 Beds
4 Baths
3,620 Sq Ft
$52/Sq Ft Est. Value

Last Sold July 25, 2024

Last sale price $160,000 $44 Per Sq Ft

Est. 18% increase in value since last sale

Current estimated payment $1,229/month

9 Days on Market

About This Home

As of July 2024

Cash flowing four-plex in the popular NNW neighborhood! Four apartments totaling over $3,000 in rent potential. One current vacancy. Electric heat with separate electric meters. Great opportunity to own a performing building with potential appreciation and rent growth! Agents, see remarks.

Last Agent to Sell the Property

Drew Overmyer

At Home Realty Group Brokerage Phone: 574-968-0100 Listed on: 06/29/2024

Last Buyer's Agent

Drew Overmyer

At Home Realty Group Brokerage Phone: 574-968-0100 Listed on: 06/29/2024

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $2,800

Year Built

  • Built in 1920

Lot Details

  • 6,534 Sq Ft Lot
  • Lot Dimensions are 50x128

Parking

  • 4 Parking Spaces

Home Design

  • Quadruplex
  • Slab Foundation
  • Stone Exterior Construction
  • Vinyl Construction Material

Interior Spaces

  • 3,620 Sq Ft Home
  • 2-Story Property

Flooring

  • Carpet
  • Laminate
  • Vinyl

Bedrooms and Bathrooms

  • 5 Bedrooms
  • 4 Full Bathrooms

Schools

  • Muessel Elementary School
  • Edison Middle School
  • Clay High School

Utilities

  • Window Unit Cooling System
  • Baseboard Heating

Listing and Financial Details

  • Tenant pays for electric
  • The owner pays for building insurance, sewer, tax, trash collection, water
  • Assessor Parcel Number 71-08-02-184-008.000-026

Community Details

Overview

  • 4 Units

Building Details

  • Insurance Expense $1,200
  • Maintenance Expense $3,480
  • Water Sewer Expense $2,400

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$2,800

Year Built

Built in 1920

Lot Details

0

Listing Details

  • Class: INVESTMENT
  • Property Sub Type: Fourplex
  • Year Built: 1920
  • Age: 104
  • Style: Two Story
  • Bedrooms: 5
  • Number Above Grade Bedrooms: 5
  • Total Bathrooms: 4
  • Total Full Bathrooms: 4
  • Legal Description: Lot 7 Muessels 1st
  • Parcel Number ID: 71-08-02-184-008.000-026
  • Platted: Yes
  • Sp Lp Percent: 100
  • Monthly Gross Income: 2900
  • Year Taxes Payable: 24/25
  • Special Features: None

Interior Features

  • Total Sq Ft: 3620
  • Total Finished Sq Ft: 3620
  • Above Grade Finished Sq Ft: 3620
  • Price Per Sq Ft: 44.2
  • Basement Foundation: Slab
  • Flooring: Carpet, Laminate, Vinyl
  • Number Of Ranges Ovens: 4

Exterior Features

  • Exterior: Stone, Vinyl
  • Stories: 2

Garage/Parking

  • Number Of Parking Spaces: 4

Utilities

  • Cooling: Window
  • Heating Fuel: Baseboard
  • Sewer: City
  • Water Utilities: City
  • Annual Insurance Expense: 1200
  • Annual Maintenance Expense: 3480
  • Annual Water Sewer Expense: 2400

Schools

  • School District: South Bend Community School Corp.
  • Elementary School: Muessel
  • Middle School: Edison
  • High School: Clay
  • Elementary School: Muessel

Lot Info

  • Lot Description: 0-2.9999
  • Lot Dimensions: 50X128
  • Estimated Lot Sq Ft: 6534
  • Estimated Lot Size Acres: 0.15

Rental Info

  • Owner Pays: Building Insurance, Sewer, Tax, Trash Collection, Water
  • Tenant Pays: Electric

Multi Family

  • Gross Monthly Rent: 2900
  • Number Of Refrigerators: 4
  • Number Of Units: 4
  • Num Of1 Bedrooms: 3
  • Num Of2 Bedrooms: 1
  • Num Of Units Rented: 3

Tax Info

  • Annual Property Tax: 2800

MLS Schools

  • High School: Clay
  • Middle School: Edison
  • School District: South Bend Community School Corp.

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jun 29, 2024
Closed on
Jul 24, 2024
Sold by
Br Casa Series Llc
Bought by
Twisted Metal Atlanta Llc
Seller's Agent
Drew Overmyer
At Home Realty Group
Buyer's Agent
Drew Overmyer
At Home Realty Group
List Price
$160,000
Sold Price
$160,000
Views
24
Current Estimated Value
$188,333

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$28,333
Avg. Annual Appreciation
15.09%
Original Mortgage
$180,000
Interest Rate
6.17%
Mortgage Type
Construction

Purchase Details

Listed on
Jun 29, 2024
Closed on
Jul 19, 2024
Sold by
Br Casa Series Llc
Bought by
Twisted Metal Atlanta Llc
Seller's Agent
Drew Overmyer
At Home Realty Group
Buyer's Agent
Drew Overmyer
At Home Realty Group
List Price
$160,000
Sold Price
$160,000
Views
24

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$180,000
Interest Rate
6.17%
Mortgage Type
Construction

Purchase Details

Closed on
May 19, 2022
Sold by
Br Casa Series Llc
Bought by
Br Casa Series Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$187,500
Interest Rate
4.72%
Mortgage Type
New Conventional

Purchase Details

Closed on
Apr 13, 2016
Sold by
B & R Investment Properties Ll
Bought by
Br Casa Series Llc

Purchase Details

Closed on
Oct 30, 2013
Sold by
5 B Apartments Llc
Bought by
B+R Investment Properties Llc

Purchase Details

Closed on
Jun 14, 2012
Sold by
B & R Investment Properties Ll
Bought by
Sb Apartments Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$50,846
Interest Rate
3.57%
Mortgage Type
New Conventional

Purchase Details

Closed on
Oct 15, 2007
Sold by
Mullin Evelyn A and Mullin Robert A
Bought by
B & R Investment Properties Llc

Purchase Details

Closed on
Oct 12, 2006
Sold by
Lyle Christopher S
Bought by
Wells Fargo Bank Na
Source: Public Records

Range of Values:

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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Twisted Metal Atlanta Llc $160,000 None Listed On Document
Twisted Metal Atlanta Llc $160,000 None Listed On Document
Twisted Metal Atlanta Llc $160,000 None Listed On Document
Twisted Metal Atlanta Llc $160,000 None Listed On Document
Br Casa Series Llc -- Fidelity National Title
Br Casa Series Llc -- Fidelity National Title
Br Casa Series Llc -- Metropolitan Title
Br Casa Series Llc -- Metropolitan Title
B+R Investment Properties Llc -- --
B+R Investment Properties Llc -- --
Sb Apartments Llc -- --
Sb Apartments Llc -- --
B & R Investment Properties Llc -- None Available
B & R Investment Properties Llc -- None Available
Wells Fargo Bank Na -- None Available
Wells Fargo Bank Na $31,120 None Available
Wells Fargo Bank Na -- None Available
Wells Fargo Bank Na $31,120 None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Closed Twisted Metal Atlanta Llc $180,000
Closed Twisted Metal Atlanta Llc $180,000
Previous Owner Br Casa Series Llc $187,500
Previous Owner Br Casa Series Llc $105,700
Previous Owner Sb Apartments Llc $50,846
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
07/25/2024 07/25/24 Sold $160,000 0.0% $44 / Sq Ft
07/08/2024 07/08/24 Pending -- -- --
06/29/2024 06/29/24 For Sale $160,000 -- $44 / Sq Ft
Source: Indiana Regional MLS

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $2,813 $112,400 $9,800 $102,600
2023 $2,702 $112,600 $9,800 $102,800
2022 $2,702 $112,600 $9,800 $102,800
2021 $2,369 $96,900 $3,100 $93,800
2020 $2,368 $96,900 $3,100 $93,800
2019 $1,981 $96,900 $3,100 $93,800
2018 $1,304 $52,800 $3,100 $49,700
2017 $1,327 $51,500 $3,100 $48,400
2016 $1,344 $51,100 $2,700 $48,400
2014 $1,338 $51,200 $3,100 $48,100
Source: Public Records

Agents Affiliated with this Home

  • Drew Overmyer

    Seller's Agent in 2024

    Drew Overmyer

    At Home Realty Group

    (574) 299-3184

    19 in this area

    572 Total Sales

    Drew Overmyer
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Map

Source: Indiana Regional MLS

MLS Number: 202424036

Indiana Regional MLS

APN: 71-08-02-184-008.000-026

Indiana St Joseph County South Bend 46616 Near Northwest

1020 Sherman Ave, South Bend, IN

This home is located at 1020 Sherman Ave, South Bend, IN 46616 since 29 June 2024 and is currently estimated at $188,333, approximately $52 per square foot. This property was built in 1920. 1020 Sherman Ave is a home located in St. Joseph County with nearby schools including Muessel Primary Center, Edison Middle School, and Clay High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Indiana Regional MLS IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.

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